In today’s society, the word entrepreneur is thrown around as if it’s a game of catch. Entrepreneurship is presently the most “in” way of describing ourselves. The word itself can be used in many wrong ways that can confuse others into thinking they are entrepreneurs when in reality, they may be just self-employed. I hate to break it to you, but self-employment is not the same as entrepreneurship. You still have to be actively present at your business in order for it to run correctly, while as an entrepreneur, you create your own schedule and do not trade your hours for dollars. You create ongoing, residual income.
Think of Ray Kroc, the founder of McDonald’s. He is no longer living on this earth, yet he had the ability to create an ongoing source of income that his family is still reaping the benefits of. How did he do that without being self-employed? He duplicated himself through mentorship and coaching others. He was a phenomenal leader that always lead by example. Although he began his business putting in hours, he had no intention of continuing to put in long hours. You see, he created a business system, which is is still in place today.
A business system is a program that has rules and regulations, as well as extensive training. You may not know this, but in order to own a McDonald’s (besides the hefty investment upfront), you have to graduate from Hamburger University. While attending this University, you will develop leadership skills, as well as learn all the fundamentals of being a McDonald’s Franchisee. If you are truly an entrepreneur, you have a business system that either you have created, or you have access to. Business systems create financial freedom, as well as time to do the things you love.
Being an entrepreneur is so much more than just stating that you are; it is the steadfast work towards a goal, getting around other entrepreneurs and building teams with them. Consistently increasing your knowledge by reading accredited books and listening to podcasts by other successful entrepreneurs. Always staying confident in the hard times and learning from your mistakes. Keep getting up no matter how many times you fall. Go for as many “No”‘s as possible, because ultimately you are planting seeds that will soon reap a harvest for more than you ever expected. Quick Tip: the book “Go For No!” may be a good starting place. Entrepreneurs know there will not be a life of luxury in the near future. There is no instant gratification, it takes extremely hard work, time, and persistence.
So, are you a true entrepreneur? If so, keep it up! If not, I strongly encourage you to stop using this word so lightly. Read up on entrepreneurship, which I will be posting more about in the near future, and get on the right track. Remember, you can do anything you put your mind to – but you must put your everything into it as well!